[jeff]

Free Study Planner, Notes, Audio, Flashcards: https://www.another71.com/cpa-exam-study-plan/

Free CPA Exam Survival Guide: https://www.another71.com/cpa-exam-survival-guide/

[Anonymous]

Since your test is in two weeks, how do you feel about the evidence portion? I'm really struggling in that area and it is just not clicking.

[mariam almas]

@CPAHOPEFUL11 For me my foundation is excellent in audit evidence since i was in college (all thnx goes to my professor), it needs more more more practices and understand the purpose behind it . i'm very weak in deciding direct and indirect finance interest that impaired the independence specially when the question includes (auditor's brother in law, best friend, mother …) worry about it.

how about ur preparation? when ur exam gonna be ??

AUD: 81 (Done)
REG: Currently studying
FAR: TBD
BEC: TBD

NH

[Anonymous]

Any tips on sampling? Did you memorize the formulas? Which area are you focusing on when it comes to this topic?

[mariam almas]

@CPAby2015 The relationship between Tolerable rate, sampling risk, risk of incorrect acceptance, deviation rate,……etc with the sampling size is very important. Plus you should be familiar with Attribute sampling and variables sampling. The formulas should be memorized, it easy formulas.

AUD: 81 (Done)
REG: Currently studying
FAR: TBD
BEC: TBD

NH

[Anonymous]

My studying is okay but not that great in IC or evidence. It just won't stick to me regardless of how hard I try to get it down.

My exam is scheduled for the 16 so little over three weeks left.

[Future Ninja]

are you studying full time? im working full time and im scheduled on the 20th.

AUD - 79 (expired) retaking July 28,2016
FAR - 76 expiring July 31, 2016
BEC - 85
REG - 74,74,74,74,59,70,

[Future Ninja]

need help:

reasonable possibility of a significantly material loss and adequately disclosed in the notes to fs would:

> issue unmodified opinion?

> add an EM PAR following the Opinion Paragraph?

please anyone? Thanks.

AUD - 79 (expired) retaking July 28,2016
FAR - 76 expiring July 31, 2016
BEC - 85
REG - 74,74,74,74,59,70,

[Anonymous]

@Future Ninja,

I think the answers of your questions are as following:

1- issue unmodified opinion? if that significant loss can not be estimated then no adjustment required to be included in FS and YES issue unmodified opinion because they have adequately disclosed that in FS.

2- add an EM PAR following the Opinion Paragraph? YES

I would prefer if others also can confirm that 🙂

[mariam almas]

unmodified opinion with EM following the opinion paragraph because it adequately disclosed in the notes FS (going concern matter)

if NOT adequately disclosed in this case adverse or qualified opinion

AUD: 81 (Done)
REG: Currently studying
FAR: TBD
BEC: TBD

NH

[Future Ninja]

the answer in becker is only unmodified opinion. no need for an EoM PAR after opinion. That's why I got confused. The amount plays a significant role if it's estimable or not.

AUD - 79 (expired) retaking July 28,2016
FAR - 76 expiring July 31, 2016
BEC - 85
REG - 74,74,74,74,59,70,

[mariam almas]

@Future Ninja so as @CPA never give up said “if that significant loss can NOT be estimated then no adjustment required to be included in FS and YES issue unmodified opinion because they have adequately disclosed that in FS”

however, if it can be estimated+ adequately disclosed =unmodified opinion with EM

don't get confused, some AUD topics need to be memorized more than understand

AUD: 81 (Done)
REG: Currently studying
FAR: TBD
BEC: TBD

NH

[Future Ninja]

Thank you Mariam.

AUD - 79 (expired) retaking July 28,2016
FAR - 76 expiring July 31, 2016
BEC - 85
REG - 74,74,74,74,59,70,

[Future Ninja]

Did you know that:

Because AT 701 provides guidance specific to attest engagements concerning MD&A presentations,

a practitioner should NOT perform a compliance attestation engagement under section 601,

Compliance Attestation, with respect to an MD&A presentation?

AUD - 79 (expired) retaking July 28,2016
FAR - 76 expiring July 31, 2016
BEC - 85
REG - 74,74,74,74,59,70,

[Future Ninja]

I'm reading AT 701 from aicpa site.

AUD - 79 (expired) retaking July 28,2016
FAR - 76 expiring July 31, 2016
BEC - 85
REG - 74,74,74,74,59,70,

[Future Ninja]

did you know that:

A practitioner may accept an engagement to examine MD&A of a

public or nonpublic entity, provided the practitioner AUDITS, in accordance with

GAAS,13 the financial statements for at least the latest period to which the

MD&A presentation relates.

AUD - 79 (expired) retaking July 28,2016
FAR - 76 expiring July 31, 2016
BEC - 85
REG - 74,74,74,74,59,70,

[Author]

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